Online travel service provider Tongcheng Network, a subsidiary of Tongcheng Tourism, and travel website eLong Inc announced they would merge into a new entity named Tongcheng-eLong on December 29, 2017.
Tencent and Ctrip will become major shareholders of the new entity TongCheng-eLong after the merger, the Beijing News reported on Saturday.
The new company will integrate online transportation booking systems and hotel resources to build a leading travel platform, the report said.
There are almost 200 million active users in the new platform, with a combined transaction volume of more than 100 billion yuan ($15.39 billion) and a large-scale profit of more than 500 million yuan annually, data from the company showed.
